Exhibit 21

NATIONWIDE FINANCIAL SERVICES, INC. AND SUBSIDIARIES

Subsidiaries of the Registrant

As of December 31, 2007

The following
list includes subsidiaries of Nationwide Financial Services, Inc. Subsidiaries of subsidiaries are indicated by indentations. All subsidiaries are wholly-owned unless otherwise indicated.



|                                                                   |  |                                       
|------------------------------------------------------------------ |  | --------------------------------------
|Subsidiary                                                         |  | State of Incorporation or Organization
|Nationwide Life Insurance Company                                  |  | Ohio                                  
|Nationwide Life and Annuity Insurance Company                      |  | Ohio                                  
|Olentangy Reinsurance Company                                      |  | Vermont                               
|Nationwide Investment Services Corporation                         |  | Oklahoma                              
|Nationwide Financial Assignment Company                            |  | Ohio                                  
|Nationwide Investment Advisors LLC                                 |  | Ohio                                  
|Nationwide Community Development Corporation, LLC (67% owned)      |  | Ohio                                  
|Nationwide Fund Advisors                                           |  | Delaware                              
|Life REO Holdings LLC                                              |  | Ohio                                  
|Nationwide Life Insurance Company of America                       |  | Pennsylvania                          
|Nationwide Life and Annuity Company of America                     |  | Delaware                              
|Nationwide Life Insurance Company of Delaware                      |  | Delaware                              
|Nationwide Provident Holding Company                               |  | Pennsylvania                          
|1717 Capital Management Company                                    |  | Pennsylvania                          
|Washington Square Administrative Services, Inc.                    |  | Pennsylvania                          
|Provestco, Inc.                                                    |  | Delaware                              
|RCMD Financial Services, Inc.                                      |  | Delaware                              
|1717 Advisory Services, Inc.                                       |  | Pennsylvania                          
|1717 Brokerage Services, Inc.                                      |  | Pennsylvania                          
|Nationwide Financial Services Capital Trust                        |  | Delaware                              
|Nationwide Bank                                                    |  | Federal Incorporation                 
|Nationwide Financial Structured Products, LLC                      |  | Ohio                                  
|TBG Insurance Services Corporation d/b/a TBG Financial (69% owned) |  | Delaware                              
|TBG Aviation, LLC                                                  |  | California                            
|TBG Danco Insurance Services Corporation                           |  | California                            
|TBG Financial & Insurance Services Corporation                     |  | California                            
|Mullin TBG Insurance Agency Services, LLC (50% owned)              |  | Delaware                              
|NF Reinsurance Ltd.                                                |  | Bermuda                               



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|                                                                       |  |                                       
|---------------------------------------------------------------------- |  | --------------------------------------
|Subsidiary                                                             |  | State of Incorporation or Organization
|NFS Distributors, Inc.                                                 |  | Delaware                              
|Nationwide Fund Management LLC                                         |  | Delaware                              
|Nationwide Fund Distributors LLC                                       |  | Delaware                              
|Nationwide Retirement Solutions, Inc.                                  |  | Delaware                              
|Nationwide Retirement Solutions, Inc. of Arizona                       |  | Arizona                               
|Nationwide Retirement Solutions Insurance Agency, Inc.                 |  | Massachusetts                         
|Nationwide Retirement Solutions, Inc. of Ohio                          |  | Ohio                                  
|Nationwide Retirement Solutions, Inc. of Texas                         |  | Texas                                 
|Nationwide Financial Institution Distributors Agency, Inc.             |  | Delaware                              
|Pension Associates, Inc.                                               |  | Wisconsin                             
|Registered Investment Advisors Services, Inc. d/b/a RIA Services, Inc. |  | Texas                                 

All business operations of Nationwide Financial Services, Inc. and all of its subsidiaries are
conducted using each companys legally registered name, except for TBG Insurance Services Corporation d/b/a TBG Financial and Registered Investment Advisors, Inc. d/b/a RIA Services, Inc.